How will the new junior miners survive that are coming on line. I'd say their cost prices are higher than their selling prices
and expect them all to go bankrupt.
This is history repeating itself. Saw it with Iron ore in 2007 where many new mines came online and over supply saw the prices fall hard and the new mines all went bankrupt.
That left the big four in BHP, RIO, Vale and FMG and prices rebounded quite quickly.
PLS profits will be taking a big hit. It can't drop much lower.
Think longer term when the junior miners go bankrupt the prices will re bound.
If PLS get as low as $3.50 many I know will start buying up big again. Its bargain hunter time now really.
Buy in fear they always say this.
A few months ago iron ore prices were way down too then they rebounded and stocks have gone up 30%
in the last few weeks.
How will the new junior miners survive that are coming on line....
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Last
$2.75 |
Change
-0.090(3.17%) |
Mkt cap ! $8.279B | |||
| Open | High | Low | Value | Volume |
| $2.83 | $2.83 | $2.74 | $55.00M | 19.77M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 28 | 281921 | $2.75 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.77 | 221281 | 8 |
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| Last trade - 16.10pm 03/09/2024 (20 minute delay) ? |
| PLS (ASX) Chart |